Read the prompt below and formulate responses to the following questions. You are to answer ALL the questions. You are the Chief Financial Officer for a printing company which employs around 50 people, ranging in age from those in their 20s to some in their 50s. Of late, you have noticed that office supplies such as stationery, kitchen supplies, etc are having to be replaced far more frequently, resulting in a higher expenditure. As a result, as of a given date, you are implementing measures to track employees' use of such resources. In addition, you will have to inform staff that there will be a minor pay cut, as of a given date, since the company is not attracting as many customers. The only other option to the pay cut would be to maintain salaries but lay off some individuals. You have to convey all relevant details of these two changes to the staff. The Audience and Method of Communication i) Suggest TWOpossible methods in which you could communicate this information to the employees. ii) Explain why EACHmethod would be appropriate and effective in this situation.
Read the prompt below and formulate responses to the following questions. You are to answer ALL the questions. You are the Chief Financial Officer for a printing company which employs around 50 people, ranging in age from those in their 20s to some in their 50s. Of late, you have noticed that office supplies such as stationery, kitchen supplies, etc are having to be replaced far more frequently, resulting in a higher expenditure. As a result, as of a given date, you are implementing measures to track employees' use of such resources. In addition, you will have to inform staff that there will be a minor pay cut, as of a given date, since the company is not attracting as many customers. The only other option to the pay cut would be to maintain salaries but lay off some individuals. You have to convey all relevant details of these two changes to the staff. The Audience and Method of Communication i) Suggest TWOpossible methods in which you could communicate this information to the employees. ii) Explain why EACHmethod would be appropriate and effective in this situation.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Read the prompt below and formulate responses to the following questions. You are to answer ALL the questions.
You are the Chief Financial Officer for a printing company which employs around 50 people, ranging in age from those in their 20s to some in their 50s. Of late, you have noticed that office supplies such as stationery, kitchen supplies, etc are having to be replaced far more frequently, resulting in a higher expenditure. As a result, as of a given date, you are implementing measures to track employees' use of such resources.
In addition, you will have to inform staff that there will be a minor pay cut, as of a given date, since the company is not attracting as many customers. The only other option to the pay cut would be to maintain salaries but lay off some individuals.
You have to convey all relevant details of these two changes to the staff.
- The Audience and Method of Communication
- i) Suggest TWOpossible methods in which you could communicate this information to the employees.
- ii) Explain why EACHmethod would be appropriate and effective in this situation.
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